President Obama does not want a one person panel overlooking the auto industrys restructuring, instead, he is appointing senior administration officials to do the job.
Timothy Geithner, the Treasury Secretary, and Lawrence Summers, the National Economic Counsil Director, have been unofficially named as the two who will take on this job.
President Obama
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wants to make sure that we're getting the expertise and input of agencies across the government
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The fate of the auto industry is facing difficult choices these days, and Chrysler and GM are racing to submit plans to the government which have to be in by Tuesday.
Right now, Chrysler and GM are living on the money they have already gotten and are still asking for more. It is said that if things dont change soon, they may be facing bankruptcy.
02-16-2009, 02:02 PM
Auto industry panel to be created by Obama
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